HAMILTON, BERMUDA--(Marketwire - Oct 15, 2012) - Seadrill Partners LLC ("Seadrill
Partners"), a wholly-owned subsidiary of Seadrill Limited (NYSE: SDRL)
today
announced that it has commenced an initial public offering (the "Offering")
of
8,750,000 common units, representing limited liability company interests,
pursuant to a registration statement on Form F-1 (including a prospectus)
previously filed with the U.S. Securities and Exchange Commission (the
"SEC").
Seadrill Partners intends to grant the underwriters a 30-day over-allotment
option to purchase up to 1,312,500 additional common units. The common
units
being offered to the public have been approved for listing on the New York
Stock
Exchange under the symbol "SDLP," subject to official notice of issuance.
Based on the number of common units to be offered, Seadrill Limited will
own a
78.8% limited liability company interest in Seadrill Partners following
completion of the Offering (or a 75.7% limited liability company interest,
if
the underwriters exercise in full their option to purchase additional
common
units.)
Seadrill Partners was formed by Seadrill Limited to own, operate and
acquire
offshore drilling rigs under long-term contracts. Seadrill Partners'
initial
fleet will consist of two semi-submersible rigs (West Capricorn and West
Aquarius), one drillship (West Capella) and one tender rig (West Vencedor).
The offering of the common units will be made only by means of a
prospectus. A
written prospectus meeting the requirements of Section 10 of the Securities
Act
of 1933, when available, may be obtained from the offices of:
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717., Email: BATProspectusdept@citi.com, Telephone:
800-831-9146
Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor,
New York, NY 10014, Email: prospectus@morganstanley.com, Telephone:
866-718-1649
Wells Fargo Securities, Attn: Equity Syndicate Dept., 375 Park Avenue, New
York,
NY 10152, Email: cmclientsupport@wellsfargo.com, Telephone:
800-326-5897.
A registration statement relating to these securities has been filed with
the
SEC, but has not yet become effective. The securities may not be sold, nor
may
offers to buy be accepted, prior to the time the registration statement
becomes
effective. This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities issuable pursuant to the
registration statement, nor will there be any sale of these securities in
any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws
of any
such state or jurisdiction.
The statements in this press release that are not historical facts may be
forward-looking statements. Such forward looking statements, based upon the
current beliefs and expectations of Seadrill Partners' management, are
subject
to risks and uncertainties, which could cause actual results to differ from
the
forward looking statements. The information set forth herein should be read
in
light of such risks. Seadrill Partners does not assume any obligation to
update
the information contained in this press release.
This information is subject of the disclosure requirements pursuant to
section
5-12 of the Norwegian Securities Trading Act.
This information is subject of the disclosure requirements pursuant to
section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Seadrill Limited via Thomson Reuters ONE
[HUG#1648998]